Feb 20, 2024 - Business

Pudgy Penguins expands Walmart ties to 3,100 stores

an illustration of a baby emperor penguin sitting on top of a stack of 100 dollar bills

Illustration: Tiffany Herring/Axios

Non-fungible token brand Pudgy Penguins has upped its footprint in the Walmart chain by more than 50%, expanding from 2,000 locations to 3,100.

Why it matters: Actual holders of the NFTs, represented by its line of physical penguin toys, will directly benefit both financially and personally from the licensing of their products.

  • Thirty different penguin toys will be released in this latest promotion, all representing actual, previously existing NFTs.

What they're saying: The tokens are "a great way to align incentives between your early believers and the growth and success of the brand," Luca Netz, the CEO of Pudgy Penguins, tells Axios.

Flashback: The toys first appeared in Walmart stores in September 2023.

  • The 30 new toys will range in price from $2.99 to $11.97.

Of note: The toys will have QR codes that will give their holders access to the collection's forthcoming online experience, Pudgy World.

  • It's an open world environment where penguin enthusiasts will be able to interact and play together.

The intrigue: The penguin-based digital collection has been one of the only major lines of NFTs that has been rising in value across the board over the last year.

  • The floor price (the selling price for its most common items) has risen from 6 ETH at the start of 2023 to 21 ETH ($61,000) today.
  • The whole collection has the third-highest market cap of all NFT collections, according to NFTPriceFloor.com.
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